Individual health insurance can be expensive. More than half of the pre-65 boomers on such policies spend at least $300 in monthly premiums for single coverage, according to the Commonwealth Fund, a Washington-based policy institute.

And those with a chronic medical condition may be denied coverage related to that condition or turned down altogether.

But there may be hope on the horizon. Lured by the baby boomer generation's size and affluence, a number of insurers have begun to market policies specifically geared to the 50-to-64 age group.

Some of the nation's largest health insurers - Aetna, Humana and WellPoint - are introducing more comprehensive products designed for people who were used to benefit-rich plans in their jobs.

Consumer advocates are cautious about the new individual plans, wondering whether they will do any good for older adults who haven't been able to purchase affordable coverage because of pre-existing conditions.

Prices will remain high, the advocates predict, and many chronic conditions will still be excluded.

But other industry observers predict the emerging competition will make health insurance more affordable and therefore obtainable for at least some of the 7 million Americans between 50 and 64 who now go without coverage.

Help can't come too soon for Lon Orenstein of Dallas, who's 58 and runs a computer software design business. His yearlong search for a "reasonably priced" policy has forced him to change his expectations of health insurance.

"I started by looking for a comprehensive plan similar to what I had when I worked for someone else," he said. "Now, after suffering sticker shock, I'm just trying to find something to cover me in case I ever cross paths with a truck."

Orenstein said he's in "pretty good health," but he has begun exercising until he can buy insurance.

Early retirees without employer-subsidized coverage can expect to spend an average of 40 percent of their pre-retirement income for their medical expenses, according to the Commonwealth Fund.

"For the pre-Medicare crowd, one serious illness or injury could wipe out their savings and drive them into bankruptcy," said Sara Collins, a health insurance expert.

It wasn't always so.

Early retirees once could depend on employer-subsidized health plans until Medicare began at 65, but companies hit by new accounting rules and escalating medical costs have scaled back retiree health coverage.

Only 35 percent of big employers offer retiree health benefits, down from 66 percent 20 years ago, according to the Kaiser Family Foundation.

"This current generation of early retirees will be much more on their own in terms of paying for health insurance than their parents were," said Tricia Neuman, a policy analyst.

So, as financial services companies compete to manage 78 million boomers' retirement nest eggs, health insurers are taking a new interest in selling them insurance for what's likely to be the greatest threat to those savings.

"People who have dismissed individual insurance should take a new look," said Mohit Ghose, a spokesman for America's Health Insurance Plans, a trade group.

Drawing the most attention has been Aetna Inc., which recently signed an agreement with AARP's business unit to offer a range of plans for members.

The Premier plans, for example, have been designed to provide coverage resembling employer-subsidized plans, though the insured individuals must bear the full cost themselves and go through an underwriting process.

The cost depends on the beneficiary's age, address, gender, medical history and coverage. A 52-year-old Dallas man in reasonable health will pay $295 a month for a plan with a $2,500 deductible.

Though Aetna will continue to review an applicant's medical history to determine eligibility, John Wider, vice president of health products and services for AARP Services Inc., predicted the company will be "more accepting" of certain medical conditions.

Jan Foster of Duncanville, Texas, is an AARP member who's 60 and has struggled to find affordable insurance.

Foster reads the sales brochures that come in the mail from AARP Services and said she would be interested in one of the Aetna plans if the cost fits her budget.

"For eight years, my only insurance has been the flu shot I get at the drugstore," she said.

Another provider, Humana Inc., said it's promoting its Portrait plans to the pre-Medicare market because they come with unlimited doctor's visits, a feature the insurer believes will appeal to boomers accustomed to group plans.

Co-payments are $35 for visits to primary-care doctors and $50 for visits to specialists, said Steve DeRaleau, chief operating officer of HumanaOne, Humana's individual policy business.

Ed Reece, a Dallas health insurance agent, said his customers who have been in group plans are surprised to find that individual plans often limit office visits to just a couple of times per year.

"If you want unlimited access, you'll pay a higher premium," he said.